King Luther Capital Management Corp Grows Position in Watsco, Inc. (NYSE:WSO)

King Luther Capital Management Corp boosted its stake in shares of Watsco, Inc. (NYSE:WSO) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 126,875 shares of the construction company’s stock after purchasing an additional 4,728 shares during the period. King Luther Capital Management Corp’s holdings in Watsco were worth $60,125,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WSO. J. W. Coons Advisors LLC lifted its stake in shares of Watsco by 0.7% in the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after purchasing an additional 20 shares during the period. My Legacy Advisors LLC lifted its stake in shares of Watsco by 3.2% in the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after purchasing an additional 21 shares during the period. Avidian Wealth Enterprises LLC lifted its stake in shares of Watsco by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after purchasing an additional 21 shares during the period. Centennial Wealth Advisory LLC lifted its stake in shares of Watsco by 3.0% in the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after purchasing an additional 22 shares during the period. Finally, M&T Bank Corp lifted its stake in shares of Watsco by 1.4% in the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock valued at $799,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 1.5 %

Shares of NYSE WSO opened at $520.60 on Tuesday. The firm has a 50-day simple moving average of $487.22 and a 200-day simple moving average of $494.62. The stock has a market capitalization of $21.02 billion, a price-to-earnings ratio of 39.29 and a beta of 0.92. Watsco, Inc. has a 52 week low of $389.08 and a 52 week high of $571.41.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. As a group, equities research analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is currently 81.51%.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.86% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Loop Capital upped their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Robert W. Baird upped their price objective on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Raymond James assumed coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Watsco currently has a consensus rating of “Hold” and a consensus price target of $486.25.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.